Torbay Development Agency and Torbay Council secured £1.575m from the Coastal Communities Fund in January 2015
This funding has been awarded to deliver a plan of activity submitted as part of the application which includes three elements: Route to Retail, the Events Programme and the Electronics & Photonics Innovation Centre. The funding is ring fenced for these activities and must be spent by December 2016. The programme is designed to address the immediate challenges faced by Torbay while at the same time building on our assets as a place and diversifying the economy for the future.
- Torbay is the one of the leading areas for photonics and optics expertise in the UK. The Electronics and Photonic Innovation Centre will create a flagship building with equipment, support, office and clean room space to develop our growing high tech cluster and create higher value, sustainable jobs for the future.
- Route to Retail will offer business support from the TDA to start up and existing retail businesses lacking a high street presence, enabling entrepreneurs with an online only sales presence to trade in the town centre and supporting those already there to better market themselves to customers using new technology and social media.
- The Events Programme will deliver four new events including an air and sea show, gaming event and maritime/boat show, attracting new visitors to the Bay and extending the visitor season.
By supporting the growth and diversification of our core tourism sector whilst investing in the knowledge economy for the future the Transforming Torbay programme will create 227 indirect jobs, 3 direct jobs and a 3,134 sq metre innovation centre. 105 businesses will be supported and through provision of 4 events we will see an additional 165,000 visitors come to Torbay and an additional £5m of spend. £7,050,000 of match funding will be leveraged to deliver the £8,625,000 programme.
Work to bring these projects forward will now begin, and further information will follow.
For any enquiries relating to the programme please contact the TDA on email@example.com.
Client: Torbay Council